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Chipotle CEO sounds alarm on the American economy: Gen Z and millennials are too burdened by unemployment and student loans to eat out (finance.yahoo.com)

submitted 2 days ago by cm0002 to c/usa@midwest.social

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Even fast-casual dining may be too much of a financial burden for younger generations.

Chipotle CEO Scott Boatwright said young diners between the ages of 25 and 35 are cutting back on dining at the Mexican-inspired fast-casual chain. But these millennial and Gen Z customers are not snubbing Chipotle for other fast food spots; they’ve stopped dining out as frequently altogether.

“This group is facing several headwinds, including unemployment, increased student loan repayment, and slower real wage growth,” Boatwright told investors at the company’s earnings presentation on Wednesday. “We’re not losing them to the competition. We’re losing them to grocery and food at home.”

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[–] chosensilence@pawb.social 38 points 2 days ago (1 children)

yeah no shit

[–] IrateAnteater@sh.itjust.works 23 points 2 days ago (1 children)

The only surprising part is that a CEO of a major company was willing to say it out loud.

[–] InevitableWaffles@midwest.social 20 points 2 days ago

Only because it affects his bottom line. No other reason.